maritime safety market witnessed a lot of partnerships, agreements, and collaborations by key players from 2014 to 2016.
The global transformer monitoring system market is projected to grow at a CAGR of 12.77% from 2016 to 2021. Asia-Pacific is estimated to be the largest market for transformer monitoring system, followed by North America. This trend is expected to continue till 2021. The growth of the transformer monitoring system market is driven by digitalization of utilities, renewable investments, and smart grid initiatives.
The transformer monitoring system market is dominated by global players. Some of the key players operating in the market are ABB Ltd. (Switzerland), Eaton Corporation Plc. (Ireland), General Electric (U.S.), Schneider Electric (France), and Siemens AG (Germany).
Key strategies adopted by the players in the transformer monitoring system market include contracts and agreements, new product launches, expansions & investments, mergers & acquisitions, and joint ventures & collaborations. Expansions & investments was the most commonly adopted strategy, constituting 39% of total developments from 2011 to 2016. Industry players also adopted mergers & acquisitions, which was the second most widely followed strategy during the same period.
ABB Ltd. is a leading power and automation technology company offering a wide range of products, services, and systems, namely, transformers, distribution automation products, high-voltage products, power transmission systems, grid integration systems, among others. The company offers transformer monitor systems under the power products division, which accounted for 25% of the company’s total net sales in 2015. The company provides equipment and services for a wide range of markets, namely, transmission, distribution, transportation, infrastructure, and commercial enterprises. ABB Ltd. acquired Terman (Italy), a global provider of high-quality oil and winding temperature monitoring devices to support the expansion of its product portfolio with thermal detection instrumentation for power and distribution transformers.
Eaton Corporation Plc. is a power management company offering a wide range of products related to fuel-efficient systems and power chain management tools. Its electrical business segment offers power distribution, power quality, control and automation, and monitoring products & services. The principal markets for these products are industrial, institutional, governmental, utility, commercial, residential, and information technology sectors. Its global electrical product series includes Cutler-Hammer, Moeller, Powerware, Holec, MEM, and Santak. Eaton acquired Cooper Industries plc. (U.S.) in 2012, which helped it expand its customer base in more than 175 countries.
Related Reports:
Transformer Monitoring System Market by Type (Hardware Solutions and IT Solutions), Application (Distribution Transformers, and Power Transformers), Service (Oil/Gas Monitoring, and Bushing Monitoring), and Region - Global Forecast to 2021
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